Diesel price rose by almost 7% in 2019

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The price of diesel sold by Petrom climbed by more than 1% as against February 11th, in the sixth week of rising prices in 2019. Since January 7th, diesel prices increased by almost 7%, while the gasoline prices rose by almost 5%. In the past week, gasoline and diesel prices grew in all eight stations monitored by energynomics.ro; in each city the prices are now at the maximum of the year.

Constanta had the most significant diesel price advance in the last week – 1.09%. At 5.54 lei/liter, this is still the cheapest option among the monitored cities. The highest prices are recorded in Bucharest and Brașov (5.78 lei/liter).

The same trends manifest in case of gasolines sold by Petrom, with the biggest weekly increase in Constanța and Timișoara (0.58%), and identical variations in all other cities – 0.57%. Craiova and Brasov are the most expensive options in case of gasoline: 5.31 lei/liter. Since January 1, the gasoline prices have increased by 4.74%, in Bucharest (0.24 lei per liter), while the fastest increases happened in Constanța (5.51%, 0.27 lei per liter), Iași (5.42%, 0.27 lei per liter) and Craiova (5.36%, 0.27 lei per liter).

In part, the car fuels prices have increased following the entry into force, on January 1st, of two normative acts: indexation of excises with the inflation rate, respectively the increase of the mandatory content of biofuels in gasoline and diesel. A much more important driver is the decline suffered by the Romanian currency; since the beginning of the year the leu lost more than 3% compared to the dollar, according to the NBR exchange rate (almost 0.13 lei).

Over the last week, crude oil prices in international markets have increased sharply last week, by almost 8% in case of WTI (over 56 dollars per barrel, today), and by 7.5% in case of Brent (66.5 dollars per barrel, today). Since the end of 2018, the WTI crude oil price has risen by 24.31% and the Brent benchmark has risen by over 25%.

In 2019, energynomics.ro will monitor the evolution of prices for gasoline and diesel sold at Petrom stations in eight major cities in Romania: Bucharest, Iasi, Timisoara, Cluj-Napoca, Brasov, Oradea, Constanta and Craiova.

The data source is the Petrom website and the stations we monitor are:

  • Bucharest 3A, Tudor Arghezi Str., District 2, 20941
  • Iasi 64-66, Sf. Lazar Str. 700049
  • Timisoara 1, Miresei Str., 300642
  • Cluj-Napoca 257, Cluj-Napoca – Turda Road, 400495
  • Brasov 1, Temeliei Str., 500271
  • Constanţa 315, Tomis Bvd., 900497
  • Craiova 2A, Stefan cel Mare Str., 200130
  • Oradea 4, Mihail Kogalniceanu Str., 410067

 

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